Legal & General Group Plc Has $258.86 Million Stake in Canadian Natural Resources Limited $CNQ

Legal & General Group Plc decreased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,632,656 shares of the oil and gas producer’s stock after selling 825,334 shares during the quarter. Legal & General Group Plc owned 0.37% of Canadian Natural Resources worth $258,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNQ. Leonteq Securities AG bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $31,000. GoalVest Advisory LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $32,000. LOM Asset Management Ltd bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $34,000. Quarry LP bought a new position in shares of Canadian Natural Resources in the 3rd quarter valued at about $32,000. Finally, Boyd Watterson Asset Management LLC OH bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNQ. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. The Goldman Sachs Group raised their price objective on Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $46.85 on Wednesday. The business’s 50 day moving average price is $47.21 and its two-hundred day moving average price is $40.22. The company has a market cap of $97.47 billion, a PE ratio of 13.99 and a beta of 0.47. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, analysts predict that Canadian Natural Resources Limited will post 4.09 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is 54.63%.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.